Noticed an interesting movement on the Shiba Inu chart - after weeks of unsuccessful attempts, the price finally broke through the long downward trend line. This happened yesterday when Shiba Inu recovered from the daily low and closed above the resistance level. For the first time in a month, the price managed to stay above this barrier, which has been forming since February, when the high was at $0.00000725.

Technically, the picture looks good. Shiba Inu is now trading above the 50-day moving average of around $0.00000591, which reinforces this breakout. If buyers maintain the initiative, the next target will be the 100-day moving average at $0.00000673. Trading volume increased by 41% over the day, so this is not just a spike on low volumes.

What’s interesting is that on-chain data confirms this movement. Over the past 24 hours, 133 billion SHIB have left exchanges, meaning holders are transferring tokens into self-storage instead of preparing to sell. This usually indicates accumulation. Plus, buy volume exceeded sell volume on spot and futures, which also favors the bulls.

Long-term, Shiba Inu seems to be in an accumulation phase after previous declines. Analysts see support that has held since last summer, and if it doesn’t break, a significant upward move could be ahead. Of course, this doesn’t mean the price will skyrocket immediately – volatility will still be present. But if Shiba Inu holds the breakout above the descending line and the 50-day moving average, bulls will have a chance for a more serious rally. The main thing now is not to lose this support.